Erudit, a global AI company that helps leaders improve culture and productivity, announces its $10M Series A round led by Conexo Ventures, Athos Capital, Ignia Partners, True Blue Partners and Fondo Bolsa Social. The funds will fuel Erudit’s workforce intelligence technology development and revenue’s growth. Erudit’s software-as-a-service uses AI to get action on over 100 workforce’s indicators, such as burnout risk, engagement, turnover risk, autonomy, peer relationships, professional growth, and purpose, without having to survey.
“This fundraise validates what we already knew about the HR industry—real time, actionable workforce intelligence insights impact business beyond instinct and unreliable survey data,” says Alejandro Martinez Agenjo, Erudit’s CEO. “Culture is not just about employee resource groups and pizza parties, which became clear as Chief People Officers gained a seat at the executive table during the pandemic. Erudit is giving people leaders the tech needed to maintain the best workforce at top performance.”
Erudit connects with company’s internal data lakes created by their usage of Google workspace, Slack, Teams or Zoom to give them real-time work environment reports that are segmented by team. This helps companies understand which groups of employees are at risk to churn, which are having a negative experience, any harassment that is happening, and much more; all while protecting each user’s privacy.
“The workforce is very disconnected when working remotely. You simply don’t have the collaboration that you had before. Erudit allows you to know and understand your employees’ wellbeing,” said David Olson, Senior Global Client Partner at Globant.
Users can view trends and heatmaps, sort by demographics, and create action plans to address problem areas. This platform helps businesses overcome the limitations of employee surveys and offer a comprehensive understanding of workplace culture dynamics.
Erudit´s ability to raise this round during a time of economic uncertainty demonstrates the confidence of investors in the company’s mission and its growing recognition in the market. “Our reasons for partnering include good strategic fit and team progress over the observation period,” shares Sunil Grover, Managing Partner at True Blue Partners.
Originating in Spain, Erudit has expanded its global presence with a diverse team across three continents and a growing footprint in Europe, the U.S. and Latin America.